Bank Nifty

Nifty 50 (23,466) and Bank Nifty (50,002) gained by a marginal 0.8 per cent and 0.4 per cent last week. While the derivatives data of Nifty 50 gives it a bullish inclination, Bank Nifty’s data gives more of a flattish signal. Below is an analysis.

NSE Nifty was up by 0.18 per cent or 41.55 points to 22,955, while the BSE Sensex was at 75,568 up by 0.21 per cent or 158 points.

Nifty 50 (22,502) and Bank Nifty (48,200) made a recovery and appreciated 2 per cent and 1.6 per cent respectively last week. The positioning of derivative participants has now turned positive for both indices. Here is an analysis.

Bank Nifty, which depreciated 3.1 per cent last week, seems to carry over the bearish sentiment this week, too. Today’s session opened with a gap-down at 47,390 versus Friday’s close of 47,421.

Domestic benchmark indices open higher on Friday’s trade. BSE Sensex trader at 75,066.38, higher by 455.27 pts or 0.61 per cent as of 9.27 am; and Nifty 50 traded at 22,782.05, up 133.85 pts or 0.59 per cent.

Volatility index or India VIX last week captured traders’ attention when it plunged nearly 20 per cent during intra-day on April 23, to 9.8, even as the process of General Elections to the Lok Sabha just began. However, the index bounced back a little and is currently ruling around 11. The sudden fall caught a lot of traders, who indulge in strategic option strategies such as strangle and straddle, off-guard as the premium dipped sharply. This also signalled that traders are more complacent.

Nifty 50 (22,147) and Bank Nifty (47,574) lost 1.7 per cent and 2 per cent respectively last week. Consequently, the futures contract of these indices too fell. Below is an analysis of futures and options data and projection for this week.